Princeton Capital Management LLC Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Princeton Capital Management LLC lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 4.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,528 shares of the company's stock after selling 1,168 shares during the period. Zscaler accounts for about 1.6% of Princeton Capital Management LLC's portfolio, making the stock its 14th largest position. Princeton Capital Management LLC's holdings in Zscaler were worth $4,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ZS. ORG Partners LLC increased its stake in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Summit Securities Group LLC bought a new stake in Zscaler during the 4th quarter valued at $27,000. Colonial Trust Co SC bought a new stake in Zscaler during the 4th quarter valued at $28,000. Goodman Advisory Group LLC bought a new stake in shares of Zscaler in the 1st quarter worth $29,000. Finally, Elequin Capital LP bought a new stake in shares of Zscaler in the 4th quarter worth $30,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Stock Performance

ZS stock traded up $1.88 during trading on Friday, reaching $286.18. 1,001,220 shares of the company traded hands, compared to its average volume of 1,856,509. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46. The business has a 50 day simple moving average of $291.76 and a 200 day simple moving average of $234.80. The company has a market capitalization of $44.56 billion, a price-to-earnings ratio of -1,100.69 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The company's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. As a group, research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 4,064 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the transaction, the insider owned 106,659 shares of the company's stock, valued at approximately $32,392,338.30. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of Zscaler stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $865,241.30. Following the completion of the sale, the chief executive officer owned 353,565 shares in the company, valued at $107,377,690.50. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ZS has been the subject of several recent analyst reports. Oppenheimer upped their target price on shares of Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Needham & Company LLC increased their price target on shares of Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Rosenblatt Securities upped their price objective on shares of Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their price objective on shares of Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Finally, KeyCorp upped their price objective on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

Zscaler Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.